May v. First National Bank

Citations

• 122 Ill. 551
• 13 N.E. 806

Syllabus

<p>1. Conflict of laws—volimtm-y assignment for benefit of creditors, made in another Slate—whether enforcible here. A voluntary assignment made in another State by a non-resident debtor, executed in conformity with our laws in respect to the conveyance of property, inconsistent, in substantial respects, with our statute relating to assignments, will not be enforced here to the detriment of our citizens; but for all other purposes, if the assignment be valid by the lex loci, it will be carried fully into effect. Rhawn v. Pearce, 110 Ill. 350, is not in conflict with this rule, as in that case the assignment was by operation of the law of another State, which could not pass property out of its limits.</p> <p>2. Non-resident owners are authorized by our laws to make conveyances of land situated in this State, if made pursuant to our law for the making of such conveyances. Therefore, a voluntary assignment of a non-resident debtor in form sufficient to convey real estate, will be held valid, unless made in contravention of some law or policy of this State.</p> <p>3. Same—preference among creditors—m a foreign volwntary assignment. The provision in our statute prohibiting all preferences in assignments by debtors, applies only to those made in this State, and not to those made in other States. The statute concerns only domestic assignments and domestic creditors.</p> <p>4. Non-resident debtors may execute voluntary assignments, with or without preferences, among foreign creditors, as they may see fit, so long as creditors in this State are not injuriously affected thereby.</p>